According to Kuai Keji on August 16, during the conference call after Alibaba's financial report, Alibaba CFO Xu Hong said that the company is actively seeking to make Hong Kong its primary listing place.

Xu Hong revealed that Alibaba will hold a shareholders' meeting on August 22, at which time relevant proposals will be submitted to shareholders. If approved by the shareholders' meeting, the dual primary listing in New York and Hong Kong is expected to be completed by the end of August.

As for whether to access the Stock Connect in the future, it mainly depends on the different processes of different stock exchanges, and Alibaba will follow the specific procedures.

Alibaba was listed on the New York Stock Exchange on September 19, 2014, and on the Hong Kong Stock Exchange on November 26, 2019, making it the first Chinese Internet company to be listed on both exchanges simultaneously.

The financial report shows that Alibaba's revenue for the first quarter of fiscal year 2025 (ended June 30) was 243.236 billion yuan, up 4% year-on-year.

Net profit was 24.022 billion yuan, down 27% year-on-year. Excluding non-GAAP items, net profit was 40.691 billion yuan, down 9% year-on-year.